Seattle Times digs into Washington Mutual's demise in a tough, two-part series.

From Watchdog to Pussycat

Though President Obama and the Democrats promise a fierce financial watchdog, what they’re delivering looks like a pretty tame pussycat.

There’s a disconnect between the Democrats’ tough rhetoric about the need for financial reform and the legislation that’s actually making it’s way through Congress.

Look at what just happened to the Consumer Financial Protection Agency during its sojourn through the House Financial Services Committee, under the guidance of its chairman, Rep. Barney Frank.

"My friends, there is good news and bad news. The good news is that the full faith and credit of the FDIC and the U.S. government stands behind your money at the bank. But the bad news is that you, my fellow taxpayers, stand behind the U.S, government."